Data released by China Passenger Car Association Secretary-General Cui Dongshu show that China’s lithium battery exports reached $9.7 billion in March 2026, up 69% year-on-year. Export volume totaled approximately 680,000 tonnes, with the average unit price falling to $14,300 per tonne, down 15% from a year earlier. In the first quarter, China’s cumulative lithium battery exports reached $24 billion, up 55% year-on-year. China’s lithium battery export values from 2022 to 2026 Against a 21% decline in domestic new energy passenger vehicle retail sales, exports have become a key buffer against demand volatility. Price dynamics have shifted significantly. The average export price stood at $27,300 per tonne in 2023 but has declined to around $14,900 per tonne in 2026. The downward trend has continued this year, with average prices at $15,500 per tonne in January, $15,100 in February, and $14,300 in March. However, compared with declines exceeding 20% in some months of 2025, the pace of price erosion has moderated. Changes in market structure are also notable. The European Union remains the largest export destination, accounting for around 42.1% of demand this year, up 1.6 percentage points. Main export destinations of China’s lithium batteries from 2021 to 2026 In March alone, China exported $3.97 billion worth of lithium batteries to the EU, totaling 255,000 tonnes, making it the primary driver of overall export growth. The average export price to the EU stood at $15,600 per tonne, down 13% year-on-year. By contrast, the U.S. market has contracted significantly. Exports to the United States fell 29% year-on-year in the first quarter to $2.3 billion, with its share dropping to 9.6%, down 6.5 percentage points from a year earlier. Growth rates of China’s lithium battery export across different regions Emerging markets are gaining traction. In March, lithium battery exports to the Middle East surged 333% year-on-year, while exports to Russia and Central Asia rose 319%. In regions where vehicle exports face logistical constraints or volatility, batteries have emerged as a more flexible export vehicle. Exports to Japan and South Korea also increased, rising 59% in the first quarter. This trend mirrors the regional shift in China’s vehicle exports, with deeper penetration into markets with higher technical standards and more mature industrial ecosystems. Overall, China’s lithium battery exports continue to expand through market diversification and regional reallocation. While domestic demand faces short-term pressure, overseas new energy markets—particularly in Europe—remain strong, with continued reliance on Chinese power battery supply.
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